TMS Ep586: India at COP28, IT hiring, Fed pivot, phase-down of fossil fuels

Over 200 countries at COP28 climate summit have for the first time agreed to transition away from coal, oil and gas. The deal was clinched miraculously after the summit’s closing hours, but ended with a two-minute standing ovation. While it could be a big step towards checking global warming, what did India gain from COP28? 

Several researches have claimed that global warming will hit the economic growth adversely, and lead to joblessness. Speaking of jobs, hiring in India’s IT sector has hit an all-time low. Lets dig deep to find out what’s behind this dip in hiring.

But the IT industry heaved a sigh of relief after the US Federal Reserve decided to maintain its key interest rate for the third consecutive time on Wednesday. The US Federal Reserve is finally shifting gears towards a policy pivot with a dovish commentary in the latest policy meeting, where it laid out the rate cuts projections for 2024. With Indian equities sustaining their record-hitting spree, what does the Fed pivot mean for markets and which segments will lead the charge? 

Moving on, as the global community intensifies efforts to combat climate change during the COP28 summit, discussions surrounding the reduction of fossil fuel usage have gained prominence. Two terms frequently mentioned in this context are “phase out” and “phase down”. While both aim to address the environmental impact of fossil fuels, they have distinct meanings and implications. Listen to this episode of the podcast for answers.